## Why the [Cardano](https://cardano.org/) update milestone has been pushed back

According to Cardano co-founder Charles Hoskinson, the Vasil update will significantly increase Cardano's performance and smart contract capabilities. It was due to be completed by June 29, but the most recent estimate puts its release date in the last week of July. The developers added that a "few remaining issues" were required to certify that everything was "functioning as intended" and that they would "need a few more days" to accomplish this. 


## What the Vasil fork entails 

The Vasil hard fork will increase the Cardano update chain's speed and scalability. It will include new technologies, most notably diffusion pipelining, enabling more efficient block propagation, resulting in larger blocks, and various Cardano update Improvement Proposals to enhance data storage and access. The overall effect is more significant despite minimal alterations to the underlying technique.


## What is the market's anticipated reaction to the Cardano update? 

Despite the platform's decision to postpone the rollout of the Vasil hard fork, intended for June 29, the markets were unaffected. The previous three trading sessions have been positive, resulting in a 15% gain in price. Today, the cryptocurrency appears to have resumed its last aggressive bullish surge, which is already up 2.5 per cent. The move also seems to have positive momentum, indicating a likely higher market close. 

Therefore, we expect the Cardano update price prediction to continue its bullish run on the back of the three previous trading sessions. There is a good chance that prices will rise to the $0.65 resistance level which will significantly depend on the present bullish trend's strength. Our analysis will be in vain if prices fall below the $0.44 support level. The bearish trend will have been established by that time.


More [blockchain news](/news/category/blockchain-news).




Cardano Update: developers delay Vasil hard fork by a month

The Altcoin Season Index tracks whether investor interest points towards altcoins or [Bitcoin](/coins/btc). Normally, if three-quarters of the top 50 coins by market capitalization outperform Bitcoin over the last quarter (3 months or 90 days), the index could be called altseason.

On the other hand, if 75% of the top 50 coins cannot outpace Bitcoin regarding price performance in the last season (90 days), then there is Bitcoin Season.

[Altseason](/news/article/altcoin-season) is when there are more inflows into alternate coins than into the largest digital asset by market capitalisation, BTC.

## Importance of Altcoin Season Index 

Savvy crypto traders and investors use the altcoin season index to make decisions on whether they have to invest in altcoins or inject more money into Bitcoin.

A great example of the relevance of the Altcoin Season Index can be attributed to the current crypto climate, which is the second quarter (April to June) of 2022.

In April, the crypto altcoin season returned as Bitcoin dominance faded. An index of 100 tokens outperformed Bitcoin in March. Investors who wanted to diversify their assets in case Bitcoin plunged to new high lows bought more altcoins. They were not wrong, as the market crash of May led by Do Kwon's Terra project signaled a steep decline in all cryptocurrencies, with Bitcoin taking much of the fall.

In April, May, and June, the top 50 cryptocurrencies - including Ethereum (ETH), Binance Coin (BNB), Cardano (ADA), Ripple (XRP), Solana (SOL), Dogecoin (DOGE), Polkadot (DOT), TRON (TRX), Avalanche (AVAX), Shiba Inu (SHIB), Polygon (MATIC), FTX Token (FTT), Litecoin (LTC), Chainlink (LINK), Stellar (XLM), Uniswap (UNI), and Bitcoin Cash (BCH) - have not outperformed Bitcoin.

Although BTC has reached the same price levels as 2020, collectively, these cryptocurrencies and others have shed more in market value. Therefore, we can say that we are in Bitcoin Season and not altseason.
It is not surprising to see trader interest reflected in the liquidity of Bitcoin. Though much of this is related to huge selling due to the bearish trends of the market, high investor interest relative to a low-priced asset is a sign of positive reserve risk.

## How does Altcoin Season Index Relate to Bitcoin Fear and Greed Index?

Bitcoin [Fear and Greed Index](https://edition.cnn.com/markets/fear-and-greed) and Altcoin Season Index rely on BTC to make conclusions about crypto seasons.

Bitcoin Fear and Greed Index presents a bull market when the index is closer to 100 (greed) and a bearish market when the index is closer to 0 (fear). The performance of altcoins is measured against that of Bitcoin.

In conclusion, while we are not in an altcoin season in June, there is fear in the market concerning holding Bitcoin.


What is Altcoin Season Index?

[Cardano](https://cardano.org/) has been a promising investment based on historical price action. It is a blockchain-based project with more than 70% of the total currency, ADA, staked for network validation.

A reason that so much ADA is staked is the cryptocurrency's dearth of decentralised applications (dApps) open on its blockchain.

The Cardano project was initiated in 2015 to unravel some of the issues that [Ethereum](/coins/eth) encountered from its Proof-of-Work consensus model. Cardano was officially launched by Charles Hoskinson, a co-founder of Ethereum.

Notable Cardano key advancements are multiple processing layers for settlements and computations, Proof of Stake consensus, and the flexibility to update its network efficiently in the future.

The Cardano settlement layer was founded in 2017 and raised around $63 million via the ADA ICO. The settlement layer excludes smart agreements, so Cardano can only be used to resolve peer-to-peer payments right now. The ever-growing team of designers has been working hard and preparing to launch smart agreements on the Cardano Computation Layer.

## Cardano Development

Cardano presently has between 100 and 150 developers working on the project and drives around 700 commits every week. These aspects advance the cryptocurrency as one of the most significantly-developed projects in the blockchain sector today.

## Cardano Smart Contracts

A common critique of Cardano is its non-existent DeFi ecosystem. Since the launch of smart contracts on September 12, 2021, investors have expected to see an ecosystem be built-out soon. However, Cardano's smart contract update didn't work efficiently. The ADA price went down after applications were incapable of working on the new software.

Coming to 2022, Cardano developers are planning to enhance smart contract execution and scalability through new release deployments. As per Cardano's communication supervisor, there will be three primary code drops this year. The first one launched in February, and the following two are scheduled for June and October. Cardano smart contracts will operate on the Cardano computation layer, which will back legacy Solidity contracts and its language, Plutus.

## Cardano Partnerships

Cardano has already established outstanding partnerships with universities, governments, and enterprises. Hoskinson has worked hard to see Cardano's potential come to fruition in Africa, where he considers blockchain can bring a massive impact.

New Balance also has programs to use Cardano's network to track its progress.

## Is Cardano a Promising Investment?

Cardano is a promising application in the blockchain space today, with solid fundamentals and highly driven momentum behind the project.

Cardano has a solid technical base and outstanding developers with impressive plans. It could be a win-win situation for crypto investors to have this crypto coin in their portfolio.
Remember, this is just my opinion and not financial advice. Crypto investments are innately risky, and you should not invest any money you are not willing to lose.


Is Cardano a Good Investment?

COTI crypto (“currency of the Internet”), a Layer-1 platform that operates on the Proof-of-Trust (PoT) consensus, has recently turned bullish and left everybody asking – for how long?

As the first enterprise-grade blockchain platform for payments, COTI integrates a so-called directed acyclic graph (DAG) data structure with the demands linked with traditional finance, such as fees, latency, and so on. A DAG is a data structure that enables more efficient and scalable transactions. 

Here, each transaction is confirmed by two previous transactions. It makes a more efficient, transparent, and, therefore, safer network of trust than a traditional blockchain.

## Why is COTI trending?

According to [CoinMarketCap](https://coinmarketcap.com/), COTI crypto is currently trading at $0.19 with a volume of $22,185,025 over a day. However, not long ago, COTI recorded a price of $0.33 and analytics claimed this was only the beginning. During the last month, COTI crypto has witnessed both plunges and jumps, demonstrating the token's volatility. There are good reasons to watch this cryptocurrency.

The first one includes expecting the forthcoming MultiDAG 2.0-layer launch. This will enable the COTI protocol to develop the new tokens on top of its Trustchain. This will also ensure that the COTI mainnet creates a governance token for COTI’s treasury. This new token will act as one more enterprise-driven token built on its Trustchain.

Another reason for its rally is its announced partnership with Cardano’s first NFT Gaming platform dubbed Revelar.

This cooperation includes Revelar implementing COTI stablecoin Djed to ensure a more secure and balanced way to buy and sell NFT game assets on the Revelar platform. Moreover, the Djed stablecoin will ensure the COTI’s presence in new tokenomic models.

Revalar’s integration with Djed is only a part of a bigger plan to create new NFT payment options, such as fiat-backed payment integrations to Cardano.

Shahaf Bar-Geffen, CEO of COTI, said that “by integrating Djed to their platform, Revlar is giving their developers and gamers more stable payment options".

## COTI price performance

COTI crypto's uniqueness lies in the fact that it consistently pays for all the features and makes sure both buyers and sellers are protected within a stable framework. This allows COTI to save time and increase processing speed.

According to CoinMarketCap, COTI crypto rose by 1.77% at the time of writing, with a live market cap of US$199,294,662 and 1,05B COTI coins in circulation.

As we already mentioned, COTI operates a cross-chain bridge and, through reproducing, the bridge constantly processes delayed transactions involving ERC-20 and COTI native tokens.

COTI crypto has been trading almost at a similar price as the ERC-20 version. Both tokens were listed on some of the biggest exchanges, such as Crypto.com, Celsius, Huobi, 1inch, and Coinbase. This also triggered the price surge.

Analysts say that the community built around COTI and Cardano also boosted trading volumes, seeing an almost twentyfold rise since last June.

With these metrics in mind, the conclusion stands that the COTI crypto race won’t be coming to its end anytime soon.

More [Business & Markets news](/news/category/crypto-business-news).


COTI Crypto: Bullish Trend Coming?

In July 2021, the US internet sales behemoth [Amazon](https://www.amazon.com/) shook the crypto market after letting out a blockchain and cryptocurrency lead job advertisement.

The ad specified that the company wanted someone to develop the case for crypto, drive the vision and product strategy, and gain leadership buy-in and investment.

According to sources, the directive for this advertisement came from the headman - Jeff Bezos himself - and it meant more than merely looking into options. Allegedly, Bezos was (and still is) interested in implementing cryptocurrencies into Amazon's business, particularly [Bitcoin](/coins/btc), [Ethereum](/coins/eth), Cardano, and Bitcoin Cash. After that, according to reports, the company would develop its native token as well.

Still, even though there were plenty of rumors, they were never officially confirmed. Amazon did, however, hint that it plans to jump into the creation of Amazon cryptocurrency, and the year 2022 was on everybody's mouth.

## Who will be Amazon’s Crypto Head?

According to the job ad, the company searched for "an experienced product leader" to develop a roadmap for Amazon blockchain and cryptocurrency strategy.

It stated that the successful candidate would leverage expertise in blockchain, distributed ledger, central bank digital currencies, and cryptocurrency to drive the concept forward.

This step seems logical since other big fintech companies, such as Facebook, Visa, and Google, also recruited whole teams of experts charged with creating a new blockchain and crypto-related workspace.

## When Could Amazon Launch?

As we already mentioned, there were no official details on Amazon's possible launch date. However, 2022 was the year everyone mentioned when discussing the digital currency that would be standing shoulder to shoulder with Bitcoin and Ethereum.

There is already something called Amazon Coin; a virtual currency that can be bought on Amazon's website and then be used to purchase apps, games, and in-app items from the Amazon Appstore. Each Amazon Coin is worth $0.01 and can be bought in cheaper stacks on the Appstore app, Fire tablets, and the Amazon website. Still, it is not an Amazon cryptocurrency, per se, since these coins are non-refundable after purchase.

In the case of the actual company's cryptocurrency, the users should use it to shop on the Amazon website, trade with it, and, eventually, exchange it for other tokens.

Nowadays, the global finance industry deals with trillions of dollars daily, serving billions of users. However, the whole sector has problems with bureaucracy, high costs, frequent fraud, and constant delays. Third parties such as payment networks, stock exchanges, and money transfer services deal with crime daily. Therefore, the costs of regulation are rising as end-users ultimately bear the burden.

## Amazon to Sell NFTs Soon

Amazon admitted mulling similar projects in the past, even though these projects were rather understated than the one which wraps the Amazon cryptocurrency nowadays.

Amazon already has 'Amazon Managed Blockchain' service that, according to its webpage, "makes it easy to join public networks or create and manage scalable private networks using the popular open-source frameworks Hyperledger Fabric and Ethereum”.

However, the most recent reports show that Amazon is not even near adding cryptocurrencies as the payment option for its retail services but is interested in the Web3 space. Recently, company Chief Executive Officer Andy Jassy commented that even though developing an Amazon coin is not planned for the near future, there is a possibility for the company to sell non-fungible tokens (NFTs) on its e-commerce platform.


Status Quo on Amazon Cryptocurrency Development

Making an ADA coin pricde prediction is tough right now. [Cardano's coin price](/news/article/ada-news-crypto) fell 11% to $0.66 on Monday, 9 May, 2022, meaning it has dropped 35% in the past month. This was despite having a strong run in March, with prices reaching as high as $1.21. 

There are several reasons attributed to the change in fortunes from April. Notable is the re-emergence of Covid-related lockdowns in China, with authorities in China placing an international travel ban on Chinese citizens, preventing them from travelling for non-essential reasons. Shanghai, the financial hub of China, has been on lockdown since the end of March, with many people forced to stay at home without access to food, medicine, and other vital supplies. More than 30 cities across China are now under full or partial lockdown, affecting 220 million people. Travel has further been discouraged by a reduction in the issuance of travel documents which has fallen 6% since 2019. Passport renewals for non-essential travel also stopped in February.  

Many people that invest in cryptocurrencies believe that it is the latest version of gold, especially Bitcoin. However, while gold prices have risen 3% in 2022, with the S&P falling by 16%, the same cannot be said for Bitcoin. It fell as low as $25,402, matching its 52-week low. This resulted from a mass sell-off due to the instability of TerraUSD (UST), which failed to hold its 1-to-1 peg with the US dollar and fell as low as $0.45. In turn, the downward selling pressure in the stock market has been due to high US inflation and the aggressive countermeasures of the Fed, with CPI rising by 8.3% in a year and inflation being at its highest since 1981. 

Earlier in the month, the Fed had raised interest points by 50 bps to a target range of 75% and 1%, with the Fed Chair announcing a further 50 bps is on the cards over the next two FOMC meetings. They will also begin allowing $30 billion in US Treasuries and $17.5 billion in mortgage-backed securities to come off its balance sheet starting in June. Russia’s invasion of Ukraine in February also sparked a mass sell-off in the stock market, which in turn affected cryptos.  

Recently, specifically related to Cardano, there was an increase in its Block size on the main net to improve the transaction performance of the dApps. However, this did not seem to affect the price.  

## Number of ADA Holders Increasing

According to crypto experts, more than 500 projects are currently built on the Cardano blockchain. The token distribution is almost 90% retail, with this number likely to increase. With the number of long-term Cardano (ADA) holders growing by 32% in February, Dr. Shweta, the owner of KIBC1 and 2, further predicts that the coin value of ADA could increase by another 25% as crypto investors stock up on their Cardano holdings.  

An Analyst from Capital.com warned that Cardano investments should be taken with caution. Cryptocurrencies are currently less used as a hedging instrument, and a favourable market for cryptocurrencies, including Cardano, can only occur when the economic and geopolitical situation in the world starts to improve. This, alongside the fact that it is very volatile, makes it hard to predict future performance.  

The current prices are, from a technical point of view, a good opportunity to buy cheap. However, it is on a bearish run in the short term. Only three indicators give bullish signals and 28 bearish as of the week commencing 9 May.  

## ADA Price Prediction

Wallet investor believes that ADA coin price prediction will reach $1.52 in a year and $4.6 by May 2027. Digital Coin Price also believes that the price will rise as high as $0.86 in 2022, $0.97 by 2023, $1.28 in 2025 and $3.06 in 2030. However, Price Predictions ADA price is the most optimistic, with the average price expected to hit $1.15 in 2022, $1.62 in 2023, $3.56 in 2025, $21.35 in 2030, and $32.25 in 2031.  

Since its release, ADA has had an ROI of 2,967%, according to [CoinMarketCAP](https://coinmarketcap.com/). From a historical point of view, ADA crypto price traded in a sideways range until around November 2017, when the price rose from $0.029 on 20 November to $0.119 on 28 November, representing a 310% increase. ADA coin price continued to rise and closed 2017 at $0.719. By 4 January 2018, the crypto's price had reached $1.11, but due to its volatile nature, it declined by 97% to close the year at $0.041. It remained under $1 in the years 2019 and 2020, respectively. ADA regained momentum in 2021, went as high as $1.48 on 15 April, and reached $2.30 on 16 May. It fell to $1.98 on 21 September and fell again to $1.21 on 10 December. It closed the year at $1.31.  

## SundaeSwap Cardano Protocol Launches

Cardano has continued in its volatile nature in 2022, firstly by reaching $1.63 on 18 January following the launch of [SundaeSwap](https://www.sundaeswap.finance/). SundaeSwap is an automated market maker decentralised exchange which runs on Cardano and allows users to trade, stake, and lend tokens on the platform. Fees are low and liquidity providers can earn a return on their deposits. Following this launch, it declined to $0.75, as did the entire stock and cryptocurrency market following Russia’s invasion of Ukraine. ADA is currently trading at 0.54 as at the time this article was written, with a market capitalisation of 18.5bn.  

Therefore, to conclude, even though the crypto price of ADA, like most cryptocurrencies and stocks now, seems to be on a bearish run, in the long term we expect it to resume its bullish run and continue to rise as it has done historically since its exception.


ADA Coin Price Prediction

Here's where we take a look at ADA news, crypto markets and how Cardano is doing.

Bitcoin has been in a significant uptrend for several months, but other cryptocurrencies are starting to catch up.

Cardano, for example, has seen a 5% price increase in the past 24 hours as ADA reaches $1.50 for the first time since 2018 and continues its bullish momentum.
The number of Cardano wallets has hit an all-time high.

Data from Glassnode shows that there are now more than 1.3 million active retail wallets on Cardano's network, the highest number ever recorded.
This is a significant milestone because it exceeds the previous record of 1.2 million sets at the peak of the 2017 bull cycle.

## ADA News Crypto: Number of active wallets

Also, [Cardano (ADA)](/news/article/ada-coin-price-prediction) reached a new all-time high in terms of the number of active wallets at the end of March. The retail interest in Cardano increased on the back of ADA’s price rally, which pushed above $1.30 for the first time.

According to data from IntotheBlock, ADA had as many as 315,000 active retail wallets at the end of March. This is a new all-time high for Cardano and represents a 15% increase over February.
The number of active retail wallets for ADA has been steadily growing since January 2021, which coincides with Cardano’s massive price rally and increased adoption by institutions.

On the institutional side, Grayscale added over 690,000 ADA to its asset base in March alone. This takes Grayscale’s ADA holdings to 2 million tokens or close to $3 billion.
The firm now holds over 2% of all outstanding ADA tokens, according to data from IntoTheBlock.

Cardano’s price also neared its record high after rallying to $1.30 on Binance earlier today. At the time of writing, ADA trades at $1,210 with a market cap of $38 billion.

## ADA News Crypto: The price of ADA

Cardano (ADA) is a relatively new cryptocurrency protocol. It was designed to be a blockchain-based platform that allows decentralized applications and smart contracts.
Cardano was envisioned as a third-generation blockchain, the successor of Litecoin and Ethereum. Cardano has a single native asset called ADA, used for all transactions on the network.
The ADA price has seen an impressive rally this year, fueled by the growing interest in decentralized finance (DeFi).

At press time, ADA is trading at nearly $1.25 — this marks an impressive 471% increase from its yearly low of $0.21 set in March 2020.

## Ada News Crypto: Cardano (ADA) Becomes one of the hottest cryptocurrency

Cardano (ADA) is currently one of the hottest cryptocurrencies on the market, following a strong rally in the past few days. According to data provided by crypto analytics platform SANbase, Cardano's retail wallets reached an all-time high, surpassing the previous ATH established in February 2020 by 30%.

The increased interest in Cardano comes as the network prepares to upgrade its Shelley mainnet with a new hard fork called Mary. The upgrade will add multi-asset support and native tokens to Cardano. The fork is scheduled for February 20th.

Cardano's gains have been part of a broader bull run that has seen BTC reach $50k for the first time last week. In recent weeks, most top coins have rallied significantly, such as WazirX's WRX token or Swipe's SXP coin.


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